RIMS Celebrates Presidential Approval of the SMART Act

January 11, 2013



Legislation Poised to Streamline Reporting Process for Medicare Settlements


(NEW YORK) January 11, 2013 – RIMS, the Risk Management Society™, External Affairs Committee celebrated the authorization of The SMART Act, a bipartisan legislation that streamlines the reporting process for insurers, self-insurers and nongroup health insurers, who are secondary payers, where there is a settlement with a Medicare beneficiary.

“The SMART Act was a legislative priority for RIMS and, its approval, is a major victory for the entire risk management community,” said Carolyn Snow RIMS Board Liaison to the Society’s Government Affairs Committee. “The implications of this important piece of legislation are widespread and will be instrumental in replenishing the Medicare Trust Fund and avoiding the potentially high fines associated with these settlement processes.”

The SMART Act was attached to HR 1845 which provides Medicare coverage for the in-home administration of intravenous immune globulin.  It was approved by the United States House of Representatives and the Senate in December 2012.

The legislation can be read here: http://tinyurl.com/c4bsumo.

For more information, contact:

Josh Salter, Director of Communications, (212) 655-6059 or JSalter@rims.org

About RIMS

As the preeminent organization dedicated to promoting the profession of risk management, RIMS, the risk management society®, is a global not-for-profit organization representing more than 3,500 industrial, service, nonprofit, charitable and government entities throughout the world. Founded in 1950, RIMS is committed to advancing risk management capabilities for organizational success, bringing networking, professional development and education opportunities to its membership of more than 10,000 risk management professionals who are located in more than 60 countries. For more information on RIMS, visit www.RIMS.org

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